The factors such as the high cost of instruments and complex regulatory framework for the approval of new microbial diagnostic tests may restrain the market’s growth to a certain extent.
How much is the Microbial Identification Market worth?
MarketsandMarkets forecasts the Microbial Identification Market is expected to reach USD 3.00 Billion by 2022 from USD 2.18 Billion in 2017, at a CAGR of 6.6% during the forecast period. The rising incidence of infectious diseases coupled with epidemic and pandemic outbreaks, increasing food safety concerns, technological advancements in microbial identification techniques, and government initiatives and funding to promote microbial identification are driving the growth of this market.
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Instruments are estimated to account for the largest market share in 2017
On the basis of product and service, the microbial identification market is classified into instruments, consumables, and services. The instruments are expected to lead the global microbial identification market in 2017. Factors driving the growth of this segment include the wide use of instruments across applications and technological advancements, which have led to the launch of innovative products.
The phenotypic methods segment is estimated to dominate the market in 2017
By method, the market is segmented into phenotypic, genotypic, and proteomics-based methods. The phenotypic methods segment is anticipated to account for the largest share of the global microbial identification market in 2017. These methods are cost-effective, easy to perform, and can deliver results rapidly. Therefore, they are widely adopted across industries, which is a major factor responsible for the large share of this segment.
By end user, the hospitals, diagnostic laboratories, and blood banks segment is estimated to command for the largest share of the market during the forecast period
On the basis of end user, the microbial identification market is categorized into hospitals, diagnostic laboratories, and blood banks; food manufacturing companies; beverage manufacturing companies; pharmaceutical companies and CROs; and other end users. The hospitals, diagnostic laboratories, and blood banks segment is estimated to account for the largest share of the global microbial identification market in 2017. The heavy burden of different infectious diseases, along with periodic outbreaks of pandemic and epidemic diseases are the key factors driving the growth of this end user segment.
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North America is estimated to command the largest share of the market
This report covers the market across four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Of the four geographic regions studied in the report, North America is expected to increasing adoption of microbial identification techniques for research purposes; rising prevalence of infectious diseases.
Geographically, the microbial identification market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2017. However, Asia is expected to witness the highest CAGR, with the growth in this market centered at Japan, China, and India. Factors such as the rising focus of major players in emerging Asian countries and government support are driving the growth of the market in this region.
Leading Companies The major players in the market include Becton, Dickinson and Company (US), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), bioMérieux S.A. (France), Merck KGaA (Germany), Charles River Laboratories International, Inc. (US), Bruker Corporation (US), Shimadzu Corporation (Japan), VWR Corporation (US), Eurofins Scientific S.E. (Luxembourg), GTCR, LLC. (US), QIAGEN N.V. (Netherlands), Liofilchem s.r.l. (Italy), IEH Laboratories & Consulting Group (US), Alcami Corporation (US), Biolog, Inc. (US), Abellon CleanEnergy Limited (India), Alpha Analytical, Inc. (US), NeoGenomics, Inc. (US), Trivitron Healthcare (India), Molzym GmbH & Co. KG (Germany), Dynatec Labs (US), Altogen Labs (US), STERIS plc (UK), and Wickham Laboratories Ltd. (UK).
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